Baker Hughes (NASDAQ:BKR) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its holdings in Baker Hughes (NASDAQ:BKR – Get Rating) by 52.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,052,125 shares of the company’s stock after selling 3,309,280 shares during the period. Franklin Resources Inc.’s holdings in Baker Hughes were worth $90,129,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Red Tortoise LLC purchased a new stake in shares of Baker Hughes in the 4th quarter valued at approximately $32,000. Covestor Ltd boosted its position in shares of Baker Hughes by 104.7% during the 1st quarter. Covestor Ltd now owns 1,349 shares of the company’s stock worth $49,000 after purchasing an additional 690 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of Baker Hughes during the 4th quarter worth approximately $40,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Baker Hughes during the 4th quarter worth approximately $48,000. Finally, Belpointe Asset Management LLC purchased a new position in shares of Baker Hughes during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BKR. Barclays increased their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, April 20th. JPMorgan Chase & Co. raised shares of Baker Hughes from a “neutral” rating to an “overweight” rating and set a $32.00 price target for the company in a research report on Wednesday, March 15th. BMO Capital Markets raised their price target on shares of Baker Hughes from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. UBS Group initiated coverage on shares of Baker Hughes in a research report on Wednesday, April 19th. They issued a “neutral” rating and a $31.00 price target for the company. Finally, Susquehanna raised their price target on shares of Baker Hughes from $35.00 to $38.00 and gave the company a “positive” rating in a research report on Thursday, April 20th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.63.

Insider Activity

In other news, SVP Kurt Camilleri sold 12,293 shares of Baker Hughes stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $28.53, for a total value of $350,719.29. Following the sale, the senior vice president now owns 1,000 shares of the company’s stock, valued at $28,530. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.24% of the company’s stock.

Baker Hughes Price Performance

NASDAQ BKR opened at $28.00 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 1.32. Baker Hughes has a one year low of $20.42 and a one year high of $38.65. The firm’s fifty day moving average is $28.41 and its two-hundred day moving average is $29.51.

Baker Hughes (NASDAQ:BKR – Get Rating) last posted its quarterly earnings data on Wednesday, April 19th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The company had revenue of $5.72 billion for the quarter, compared to analyst estimates of $5.52 billion. Baker Hughes had a negative net margin of 0.44% and a positive return on equity of 7.13%. Baker Hughes’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 earnings per share. On average, analysts forecast that Baker Hughes will post 1.52 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Tuesday, May 30th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Friday, May 26th. Baker Hughes’s payout ratio is -690.91%.

Baker Hughes Company Profile

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Baker Hughes Co is a holding company, which engages in the provision of oilfield products, services, and digital solutions. It operates through the Oilfield Services and Equipment (OFSE) and industrial and Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides services for onshore and offshore oilfield operations.